Re: Help John - Posted by John Behle
Posted by John Behle on April 03, 2000 at 16:21:45:
Most legislation and proposed legislation is related to selling notes. That is one reason, but only a part of why I advocate buying and financing notes as opposed to brokering (buying and selling).
There has constantly been those worried about licensing and legislation. A dozen years ago there was all this talk of everyone getting together as an industry and self regulating - so that it wouldn’t be imposed from the outside. Still no results one way or another.
The true paper industry is a fairly small industry. It’s not as big and important as we feel it is sometimes.
There’s talk of laws, licensing, regulation, etc. None of that would shut down the industry. Maybe it would weed out some of the baloney that’s out there, but there will always be room and profits for those who know what they are doing. Most of the newer people in the industry do not and will be lucky to survive anyway. Actually most don’t.
Why? They think the note industry is about being a “bird dog”, flipping notes, simultaneous closings, etc. That never really was the note business. It’s just a sales job. Almost like an MLN. Multi-Level-Notes.
There is always room for a real investor in notes. The brokers have a challenging road ahead of them. Yet, it is no harder to buy notes than it is to broker them. It doesn’t take twenty five years experience or hundreds of thousands in capital - just the right strategy and education. Few people out there can or will teach you what you really need to know to succeed. Read this forum and all the articles here and at my website and you’ll develop a strategy and the confidence to succeed.